Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of WAL'EOL is 0.5% (low). The 2024 annual accounts show equity of €1.32M and a net result of €-357k. Equity is growing by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 59% of 89 sector peers (fiscal year 2024). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 7 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.5%
Low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector
−Multiple establishment units
+Annual accounts: weaker financial profile
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 14 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-07-2026, 340 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | 06-07-2026 | 340 d late | 2026-00275580 |
| 31-12-2023 | 31-07-2024 | 29-08-2024 | 29 d late | 2024-00414581 |
| 31-12-2022 | 31-07-2023 | 31-08-2023 | 31 d late | 2023-00417505 |
| 31-12-2021 | 31-07-2022 | 31-10-2022 | 92 d late | 2022-20484038 |
| 31-12-2020 | 31-07-2021 | 02-06-2021 | 59 d early | 2021-17100421 |
| 31-12-2019 | 31-07-2020 | 03-06-2020 | 58 d early | 2020-15000432 |
| 31-12-2018 | 31-07-2019 | 09-07-2019 | 22 d early | 2019-31200289 |
| 31-12-2017 | 31-07-2018 | 10-07-2018 | 21 d early | 2018-31400203 |
| 31-12-2016 | 31-07-2017 | 16-08-2017 | 16 d late | 2017-44200298 |
| 31-12-2015 | 31-07-2016 | 22-08-2016 | 22 d late | 2016-44700202 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsEstablished
Founded in 2014, 12 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Financials
Turnover€1.41M+6.3%
EBIT margin46.6%-6.5pp
Net result€-357k
Working capital€647k+135.1%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 06-07-2026 with the NBB · fiscal year 2024 · volledig
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~4.5%/year over 7 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 35 · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 27.1% | 18.7% | |
| Net result | €-357k | €-12k | |
| Equity | €1.32M | €373k | |
| Gross operating margin | €254k | €1k | |
| Total assets | €4.85M | €5.10M |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P59
Improving position over 2021-2024
· n=39-89
P14
Weakening position over 2021-2024
· n=38-88
P65
Improving position over 2021-2024
· n=39-89
P48
Improving position over 2021-2024
· n=39-89
Describes the position versus peers, not a forecast.
€1.41M
+6.3%
18-24
€177k
-70.2%
18-24
€-357k
-
18-24
€-175k
-
18-24
€4.85M
-8.0%
18-24
€1.32M
-22.7%
18-24
€647k
+135.1%
18-24
0
-
18-24
€263k
+1113.4%
18-24
€0
-100.0%
18-24
€3.45M
-1.3%
18-24
€957k
-28.0%
18-24
€2.48M
+15.8%
18-24
1.68
+38.9%
18-24
1.68
+38.9%
18-24
27.1%
-15.9%
18-24
2.63
+27.6%
18-24
-27.1%
-
18-24
-7.4%
-
18-24
78.8%
+13.9%
18-24
77.0%
-9.9%
18-24
1.43
-75.0%
18-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | volledig |
| Revenue | - |
| EBITDA | €177k |
| Net profit | €-357k |
| Cash flow | €-175k |
| Staff costs | - |
| Income taxes | €263k |
| Dividends | - |
| Total assets | €4.85M |
| Equity | €1.32M |
| Debt | €3.45M |
| of which ≤ 1y | €957k |
| of which > 1y | €2.48M |
| Working capital | €647k |
| Employees (FTE) | - |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 1.68 |
| Quick ratio | 1.68 |
| Working capital ratio | 13.3% |
| Solvency | 27.1% |
| Debt / equity | 2.63 |
| Long-term debt ratio | 1.88 |
| Interest coverage | 1.43 |
| Gross margin | - |
| Net margin | - |
| ROA | -7.4% |
| ROE | -27.1% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €4.85M |
| Fixed assets | 21/28 | €3.25M |
| Intangible fixed assets | 21 | €215k |
| Tangible fixed assets | 22/27 | €2.87M |
| Financial fixed assets | 28 | €160k |
| Current assets | 29/58 | €1.60M |
| Amounts receivable within one year | 40/41 | €528k |
| Cash & bank | 54/58 | €922k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €4.85M |
| Equity | 10/15 | €1.32M |
| Contributions / capital | 10/11 | €19k |
| Reserves | 13 | €2k |
| Accumulated profits (losses) | 14 | €816k |
| Provisions & deferred taxes | 16 | €82k |
| Amounts payable | 17/49 | €3.45M |
| Amounts payable after one year | 17 | €2.48M |
| Amounts payable within one year | 42/48 | €957k |
| Trade debts payable within one year | 44 | €897k |
| Income statement | ||
| Gross operating margin | 9900 | €254k |
| Operating result | 9901 | €-6k |
| Financial income | 75 | €35k |
| Financial charges | 65 | €123k |
| Result before taxes | 9903 | €-94k |
| Income taxes | 67/77 | €263k |
| Net result for the period | 9904 | €-357k |
| Result to be appropriated | 9905 | €-357k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed42
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
6 directorsCurrent directors & mandates
-
Damien LéonardDirectorState Gazette act 25072305 (06-06-2025)Current02-05-2025 → present
Former directors (5)
-
Lieselot De MeyereDirectorState Gazette act 24158121 (05-11-2024)Former05-11-2024 → 02-05-2025
2 events
- 02-05-2025 Resigned· Director
- 05-11-2024 Appointed· Director
-
Arthur Van MarckeDirectorState Gazette act 24158121 (05-11-2024)Former- → 05-11-2024
-
Luc Van MarckeDirectorState Gazette act 24158121 (05-11-2024)Former- → 05-11-2024
-
Marie Van MarckeDirectorState Gazette act 24158121 (05-11-2024)Former- → 05-11-2024
-
Marleen CoppensDirectorState Gazette act 24158121 (05-11-2024)Former- → 05-11-2024
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Productie van elektriciteit uit hernieuwbare bronnen(35120) |
| Legal form | Private limited company(610) |
| Incorporation | 23-01-2014 |
| Status | Active |
| Postal code | 4030 |
Structure & network
Locations & real estate
Registered office
from the Crossroads BankCannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Bonne-Femme 644030 LiègeEstablishment units
2 locationsWal'Eol
since 20142.226.431.003
Wal'Eol 5-6
since 20172.271.162.750
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area7,951 m²
Buildings2
Building footprint2,664 m²
Volume (LiDAR)20,131 m³
Tallest building12.1 m · ±2 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25109C0143/00B000 | Wallonia | 4,913 m² | 1 · 347 m² | 11.6 m · 2 fl. |
| 62047C1395/00C009 | Wallonia | 3,038 m² | 1 · 2,317 m² | 12.1 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
2 acts All acts · 2
updated 1 year ago
2025
06-06-2025 6 directors appointed, 1 resigning
- Damien Léonard, Bestuurder
- Christian Robin, Dagelijks bestuur
- Heidi Heleven, Dagelijks bestuur
- Lieselot De Meyere, Dagelijks bestuur
- Paul Soens, Dagelijks bestuur
- Alexandre Saussez, Dagelijks bestuur
- Lieselot De Meyere, Bestuurder
2024
05-11-2024 5 directors appointed, 4 resigning correction
- Lieselot De Meyere, Bestuurder
- KPMG Réviseurs d'Entreprises SRL, Commissaris
- Dirk Strobbe, Delegé
- Andres Vandamme, Delegé
- Ella De Smet, Delegé
- Marleen Coppens, Bestuurder
- Luc Van Marcke, Bestuurder
- Arthur Van Marcke, Bestuurder
Analysis
Snowflake analysis
financial profile on 5 axes52
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
42
Profitability
0
Solvency
57
Growth
60
Stability
100
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Credit advice
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We hold annual accounts for 23 of the 145 companies in this sector. 10 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Productie van elektriciteit35110Productie van elektriciteit uit hernieuwbare bronnen35120Handel in elektriciteit35140Handel in elektriciteit35150
Primary activity highlighted.
Names & trade names
| Legal nameFR | WAL'EOL |
Registered office
Rue Bonne-Femme 64 bus 2
4030 Liège, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.